. because obama didn't learn the lesson from reagan that if you want to turn the economy around, you cut taxes, you reduce spending, you reduce the debt and don't send regulators like locusts to destroy small businesses and jobs. [ applause ] do you know if president obama had followed the reagan policies and we had seen the identical growth that president reagan saw inheriting the same lousy economy barak obama did, do you know that today we would have 7 million additional new jobs in america? let me help make that a little more concrete. 7 million new jobs is the equivalent of giving a job to every man, woman and child in chicago, houston, philadelphia, and boston. that's what we're talking about. [ applause ] and the stagnation under president obama doesn't fall uniformly. listen, if you so happen to be a tax lawyer or an environmental lawyer, you're doing great right now. but i'll tell you the people who are hurting the most are those who are struggling in the least well off amongst us. under president obama, hispanic unemployment climbed to 10%. african-american unemployment to 14%.